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Apoorv Chaudhary
by on November 9, 2021
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There are multiple NBFCs offering the business loan. When it comes to the Indian financial market, it offers business loans to both small businesses and Small and Medium Enterprises (MSMEs). It helps to meet the business requirements. ZipLoan Business Loan application offers a low-interest rate which starts from 18% onwards and helped a lot of companies involved in clothing, manufacturing, pharmaceutical, electronic sector, etc.  

ZipLoan Business Loan Highlights  

These are some of the following business loan highlights for ZipLoan users. As you can check the business loan interest rateloan amount, processing fee, repayment tenure, collateral fee, tenure, and more. In the given table, you can check the details related to the business loan application are as follows:  

Interest Rate 

18% onwards 

Loan Amount 

Min. Rs. 1 lakh & Max. Rs. 7.5 lakh 

Processing Fee 

1-2% of the loan amount 

Repayment Tenure 

12-36 months 

Collateral 

Not needed for business with a turnover of Rs. 10 lakh. 

Loan Sanctioning Tenure 

Should be within 3 business days after form submission. 

Annual Turnover 

More than Rs. 10 lakh 

ZipLoan Business Loan Features 

Given below are the ZipLoan Business Loan features which will help you to make sure before availing of the business loan:  

  • Rapid Loan Disbursement: The process of disbursing a company loan is quick and straightforward.  
  • Online Application Process: ZipLoan is an unsecured loan that may be applied for online or through a mobile app.  
  • Prepayment penalty: There is no prepayment/part-payment penalty if you pay off your business loan in full or in part.  
  • ZipScore: As ZipLoan recognizes that enterprises may want to finance quickly, it does not solely consider the CIBIL score. A separate holistic credit rating process is known as 'ZipScore' aids in establishing a borrower's creditworthiness. 
  • Low processing price: Getting a business loan comes with substantial processing fees, however, ZipLoan charges only 3% of the loan amount as a processing fee for business loans. 

ZipLoan Business Loan Eligibility Criteria  

As ZipLoan: unsecured business loan which can be easily downloaded within a few minutes. Listed below will help you to avail the business loan easily with the help of the following key points: 

  • The applicant must have a minimum annual turnover of 10 lakh rupees. 
  • ITRs should have an amount of Rs. 1.5 lakh and filed in the previous year. 
  • The residence should be self-owned.  
  • The business should have been in operation for a minimum of 2 years. 

ZipLoan Business Loan App Documents Requirements  

Check out the essential documents required for ZipLoan Business Loan Application mentioned below:  

  • Address Proof  
  • Aadhar Card  
  • PAN Card  
  • Bank Statement for previous 12 months 
  • ITR from the previous year 

Steps to apply for ZipLoan Business Loan  

The following key points help the user to apply for ZipLoan Business Loan App and get instant approval within few hours:  

  • Step 1: Submit an Online Application:  First, you need to submit an online application for a business loan through ZipLoan's official website or mobile app. Within a few hours, you can submit the loan application, it will begin to be processed. 
  • Step 2: Now, upload the required documents in PDF format:  The borrower always uploads relevant documents in PDF format online. The ZipLoan App tech credit analysis team will examine the documents.  
  • Step 3: Small Business Loan:  After the borrower's eligibility is verified and the paperwork is verified, the business loan will be processed and disbursed within three business days. 

Conclusion  

At last, you can select the ZipLoan Business Loan while having an attractive interest rate, flexible loan tenure, maximum amount of loan, and more details. For further information, you can also visit Afinoz.com.  

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